FUEL pump prices in Spain have fallen appreciably since record highs were logged in June.

A drop of 11% in six weeks has been logged by the weekly European Union Oil Bulletin which takes in prices at 11,400 Spanish filling stations between July 26 and August 1.

Even some of the most expensive filling stations in stations have gone below the €2 per litre mark, and that’s before the government 20 cents per litre subsidy is applied.

The downward price trend rubbishes theories put forward by members of Spain’s service station industry body in June who suggested prices might sky-rocket to €3 per litre due to summer holiday demand.

Prices are now below levels registered in late March but are still higher than the start of 2022 before Russia’s invasion of Ukraine.

Filling up an average 55 litre tank with diesel costs €19 more than in January and €12 more for petrol.

A year ago the average price per litre for diesel was €1.23 with petrol on €1.38.

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